A subsidiary of KBC Bank NV, Brussels, has agreed to buy the Melville, N.Y.-based Vertical Lend, a reverse mortgage retail/wholesale originator and lead aggregator.The deal is expected to close at month-end if it meets certain conditions and receives regulatory clearance. Vertical Lend's founder and chief executive, David Peskin, would not disclose the financial terms of the transaction, but noted that he and the existing management team are slated to remain with the 360-employee company. Vertical Lend, which operates under d/b/a's that include Lender Lead Solutions and Senior Lending Network, is slated to be renamed World Alliance Financial as part of the deal. Vertical Lend can be found online at http://www.verticallend.com.
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